The vast amount of data generated due to numerous consumer interaction needs to be scrutinized and adequately correlated for making market estimations and analyzing consumer behavior.
Predictive analytics, with the aid of various statistical tools and modeling techniques enable companies and enterprises make reliable estimations and prediction about the future opportunities and market risks. In addition, predictive analytics uses tools such as machine learning, data mining, and different business intelligence (BI) tools to make estimations about the future market trends.
The techniques of predictive analytics is essential for companies to maintain a competitive edge over others.
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Emergence of big data, growing adoption of new technologies, emerging newer levers of differentiator and high consumer data generated due to product usage are the key drivers that are expected to boost the growth of predictive analytics market.
Lack of skilled professionals, low awareness and sophisticated nature of the processes involved are the factors that may restrain the growth of this market. Growing interests of enterprises in the application of business intelligence tools and the use of cloud technologies gaining prominence in big data analytics are expected to create abundant opportunities in this market.
The report segments the market on the basis of business functions, applications models, organization size, marketing verticals and geography. Based on business functions, the market is segmented into marketing, sales, finance, human resource and operations.
Based on applications, the market is segmented into risk management, operations management, sales and marketing management, network management, supply chain management, workforce management and other applications. Based on organization size, the market is segmented into small and medium enterprises (SMES) and large enterprises.
Based on marketing verticals, this report segments the market into banking, financial services and insurance (BFSI), telecommunications & IT, retail and wholesale, healthcare, manufacturing, media & entertainment, transportation & logistics, energy & utilities, and others. On the basis of geography, the market is segmented into North America, Europe, Asia-Pacific, and Latin America, Middle East & Africa (LAMEA).
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Key market players in this market Accretive Technologies, Angoss Software Corporation, FICO, HP, IBM, Information Builders, KXEN Inc., Microsoft, Oracle and Salford Systems
KEY BENEFITS FOR STAKEHOLDERS:
- • The report provides a comprehensive analysis of current & future market trends and emerging avenues for the growth of the market across the globe.
• The report offers an overview of changing market dynamics in terms of fast turn-around analysis of stakeholders’ responses to recent industry policy changes and market trends.
• The report offers an insight into competitive landscape in terms of new technological developments, untapped segments, and value chain analysis.
• This report entails the detailed quantitative analysis of the current market and estimations through 2014 and 2020, which assists in identifying the prevailing market opportunities.
• The report offers strategic analysis of financial status of key market players, and highlights market share of key vendors.
• The report offers information on the status of new projects along with offering investment feasibility analysis of the same.
• Tools such as Porter’s Five Forces model help in understanding the potentiality of key buyers and sellers.
- • Predictive Analytics Market ‐By Business Functions
o Human resource
- • Predictive Analytics Market ‐By Applications Models
o Risk Management
o Operations Management
o Sales & Marketing Management
o Network Management
o Supply Chain Management
o Workforce Management
o Other Applications
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